Insurance 101 – Chapter 16 Volume 22 – More on Establishing Materiality

More on Establishing Materiality

The court in Holtzclaw v. Bankers Mutual Insurance Co., 448 N.E. 2d 55 at p. 58 (Ind. App. 3d Dist., 1983), found that the representations of the insured are material to the risk if a truthful answer would lead the insurer to decline issuing insurance or charge a higher premium. In Indiana, in order to obtain rescission, the insured must prove materiality by evidence that establishes a higher premium would have been charged or the insurer, had it known the truth, would have refused the insurance.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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